Leading Indian Mid-Market Private Equity Firm
Founded in 2015, Paragon Partners manages a portfolio of over US $200 million AUM for a diverse group of investors, including domestic and global financial institutions, corporates, insurance companies, high-net-worth individuals, and family offices. The firm's investors trust it to grow their wealth over the long term. Paragon Partners is a trusted partner for businesses, helping them grow to the next level. The firm invests in high-growth companies across Financial Services, Consumer Goods and Services, Manufacturing, Infrastructure Services, and Healthcare.
Siddharth Parekh
Co-Founder & Senior Partner
Sid has over 20 years' work experience across the US, UK and India, a majority of which involved investing in emerging markets. Prior to co-founding Paragon Partners, Sid served as a Principal in the Mumbai office of Actis. He joined Actis' London office in 2008 and focused primarily on the Financial Services industry. Prior to Actis, he was an Investment Analyst at the International Finance Corporation focusing on investing in the Global Manufacturing & Services sectors and spent 2 years as a Consultant at the Boston Consulting Group. Additionally, he has been an active participant in the angel network in India, having invested in several start-ups engaged in the financial technology and health & fitness sectors. Sid holds an MBA and a master's degree in international Affairs from Columbia University, along with a bachelor's degree in finance and management from the Wharton School at the University of Pennsylvania.
Sumeet Nindrajog
Co-Founder & Senior Partner
Sumeet has over 20 years' experience in advising, investing and operating in companies in North America and India. Before co-founding Paragon Partners, Sumeet served as the Co-founder and Executive Director at Hover Automotive India (HAI), the exclusive distributor for a leading global automobile manufacturer in India. Under his leadership, HAI grew from a start-up to achieving annual sales of around 40,000 units and expanded its distribution network from a single dealer to approximately 130 outlets nationwide. Prior to HAI, Sumeet managed automobile retail outlets within his family business. He also successfully launched and exited two independent ventures in India's Real Estate and Power sectors. Previously, he has worked at Ares Management in their Private Equity Group and at UBS in the Investment Banking Group in California. Sumeet holds a bachelor's degree in finance and management from the Wharton School at the University of Pennsylvania.
Niten Lalpuria
Partner
MBA (IIM Ahmedabad)
Niten is a Partner at Paragon Partners (joined in 2016). He has wide experience across investing, managing P&L, running business operations, and strategy consulting spanning over 20 years. Prior to joining Paragon Partners, Niten was an executive at Cipla where he held progressive leadership roles from strategy/M&A to business unit leader. Prior to his tenure at Cipla, Niten worked at BCG, advising several top companies in India across consumer discretionary, healthcare, and financial services. Prior to his role at BCG, Niten was a founding member at QDx Inc., a US-based start-up that developed a first-generation imaging-based medical diagnostic device. Following Abbott's acquisition of QDx Inc., he played a key role in technology integration and scaling up manufacturing of consumables. Niten holds an MBA from IIM Ahmedabad, an MS in Chemistry from Ohio University, and a BE in Chemical Engineering from Mumbai University.
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Registered 2026
Sanjay Ajgaonkar
CFO
Chartered Accountant, Cost Accountant, Company Secretary
Sanjay has 25+ years of experience in finance, taxation, accounting, and compliance. Prior to joining Paragon Partners, he worked at NIIF Infrastructure Finance, IDFC Alternatives, Blue River Capital, HBL Global (an associate company of HDFC Bank Limited), Infrastructure Leasing & Financial Services Limited (IL&FS) and Tata Finance Limited. Sanjay is a Chartered Accountant, Cost Accountant, Company Secretary, and holds a bachelor's degree in commerce from Mumbai University.
Somi Rai
Managing Director
MBA (Indian School of Business)
Somi is a Managing Director at Paragon Partners (joined in 2016). He has over 15+ years of experience in private equity, corporate strategy, and planning, with expertise in infrastructure, telecommunications, and technology. Before joining Paragon Partners, he worked at IDFC Alternatives' India Infrastructure Fund, focusing on investments in Healthcare, Roads, and Solar. Previously, he worked at Ericsson India and earlier at Ericsson UK. Somi holds an MBA from Indian School of Business, Hyderabad, and a Master's in electronic and computer engineering from the University of Birmingham, UK.
Utkarsh Gautam
Principal
Chartered Accountant (ICAI member)
Utkarsh is a Principal at Paragon Partners (joined in 2019). He has 10+ years' experience across private equity and financial diligence principally in the consumer discretionary and financial services space. Prior to Paragon Partners, he worked with Motilal Oswal private equity fund as an Investment Manager. Earlier, he worked at Ernst & Young, where he was primarily involved in financial diligence and assurance engagements of several Fortune 500 companies. Utkarsh holds a bachelor's degree in commerce from Narsee Monjee College and is a member of the Institute of Chartered Accountants of India.
Poorva Pathare
Vice President, Finance
MBA (Finance)
Poorva has 10+ years of experience in the areas of Accounting and Finance. Prior to joining Paragon Partners, she was associated with Tricon Energy, a global commodities trading firm focused on the petrochemicals and plastics industry, where she oversaw the accounting, reconciling and treasury functions. Her primary responsibilities included US Accounting and conducting periodic reviews of Tricon's borrowing base. Poorva holds an MBA in Finance from Symbiosis International University and a bachelor's degree in commerce from Mumbai University.
Hemangi Panchal
Senior Manager, Finance
Chartered Accountant
Hemangi has 10+ years of experience in the areas of Accounting and Finance. Prior to joining Paragon Partners, she worked at SBICAP Ventures, Standard Chartered Securities, Kama Schachter Jewelry Pvt Ltd and Dedhia Group of Builders. Hemangi is a Chartered Accountant and holds a master's degree in commerce from Mumbai University.
Faraz Motani
Vice President
Chartered Accountant, CFA (2 levels cleared)
Faraz has 7+ years of experience in private equity, investment banking and financial due diligence, primarily in the financial services and consumer sector. Prior to joining Paragon Partners, he worked at J.P Morgan in their Investment Banking team where he was involved in growth stage companies across sectors. Previously, he worked at Deloitte in the financial due diligence team. Faraz is a Chartered Accountant (All India Rank 9) and holds a master's degree in commerce. He has also cleared 2 levels of the CFA program.
Samir Kshirsagar
Associate
Chartered Accountant, CFA (2 levels cleared)
Samir has ~2 years of experience across investment banking largely in the consumer space. Prior to joining Paragon Partners, he worked at Kotak and Motilal Oswal in their Investment Banking division where he was actively involved in consumer sector coverage and helping companies raise capital in private and public markets. Samir is a Chartered Accountant and holds a bachelor's degree in commerce from Mumbai University. He has also cleared 2 levels of the CFA program.
Mitesh Thakur
Analyst
Chartered Accountant, CFA (2 levels cleared)
Mitesh has over three years of experience in Private Equity investing, with a focus on the Industrials and Financial Services sectors. Before joining Paragon Partners, he was part of the investment team at Premji Invest, where he focused on buyout and growth investments. He began his career with ADV Partners, an Asia-focused Private Equity fund, where he focused on investments across the Industrials and Financial Services sectors. Mitesh is a Chartered Accountant by profession and has graduated in Commerce from H.R. College, Mumbai. He has also cleared II levels of the CFA (USA) exam.
Veena Kotian
Executive Assistant
Veena has ~22 years of experience as an executive assistant working with senior management teams. Prior to Paragon Partners, she worked with BofA Securities India Ltd. in the Investment Banking division and earlier at Bharat Serums & Vaccines Ltd. Veena holds a bachelor's degree in commerce from the University of Mumbai and Diploma in Secretarial Practice from Davar's College, Mumbai.
Deepak Parekh
AdvisorFormer Chairman, HDFC Ltd.
Padma Bhushan
Mr. Parekh's visionary leadership and contributions have significantly shaped India's financial landscape. He is the former Chairman of HDFC Ltd, India's leading housing finance company, and has been the driving force in transforming HDFC into a financial conglomerate with strong presence in the domains of banking, asset management, insurance, alternative investments and education finance. He has been honored with the Padma Bhushan and has served on the boards of several leading corporations including Glaxo India Ltd & Burroughs, Wellcome (India) Ltd, Castrol India Ltd, Fairfax India Holdings Corporation, Hindustan Unilever, Siemens Ltd, Mahindra & Mahindra, Indian Hotels Company and SingTel. He has acted as an advisor to the Indian Government from time to time, serving on several government-appointed high-level expert committees and task forces.
Harsh Mariwala
AdvisorChairman, Marico Ltd. & Founder Member, Marico Innovation Foundation
Mr. Mariwala is the Chairman of Marico Limited, one of the largest homegrown fast moving consumer goods (FMCG) companies from India. He is also Chairman & Managing Director of Kaya Limited, a leading provider of personal care solutions in India and the Middle East. Over the past three decades, Mr. Mariwala has transformed a traditional commodity driven business into a leading consumer products and services company in the Beauty & Wellness space. Mr. Mariwala's entrepreneurial drive and passion for innovation enthused him to establish the 'Marico Innovation Foundation' in 2003, an entity that acts as a catalyst to fuel innovation in India. Mr. Mariwala also launched ASCENT, Accelerating the Scaling up of Enterprises, to identify growth-stage entrepreneurs with potential and enable them in their scaling-up journey. In the past, he has held several positions as the President of the Federation of Indian Chambers of Commerce and Industry (FICCI), the FMCG Committee Chairman of FICCI and Confederation of Indian Industry. Mr. Mariwala is also a part of the Young President Organization (YPO) and World Presidents Organization (WPO).
Sunil Mehta
AdvisorFounder, SPM Capital Advisers Pvt Ltd
Mr. Mehta is the founder of SPM Capital Advisers Pvt Ltd, a JV with Mirabaud Securities, UK and Percy Mistry of Oxford International, UK. He is renowned for his extensive experience in the banking and financial sectors, significantly contributing to their growth & development. Previously, he has held prominent positions such as Non-Executive Chairman of IndusInd Bank, Yes Bank & Punjab National Bank, board member of State Bank of India, American Chamber of Commerce and Country Head of AIG (India). Prior to joining AIG, Mr. Mehta was associated with Citibank for over 18 years where he held various senior positions. His last assignment at Citibank was as Corporate Head and Senior Credit Officer in India.
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